Wednesday, February 16, 2011

21 February 2011: India and the World - The Economic Dimension

Dr. Sanjaya Baru

Graduating from the post-colonial phase of its interaction with the world and
re-orienting its foreign policy to deal with the post- Cold War world, India
discovered that its re-emergence as a major economic entity in the global
system is increasingly shaping its grand strategy. India's rise as a major
power is intrinsically linked to its rise as a major economy.

Two ideas and two phenomenon have shaped this thinking. The first idea is the
concept of Comprehensive National Power (CNP); second, the idea of
'inter-dependence', as opposed to 'dependence', in a globalised world economy.
The two phenomenon are, first, the collapse of the Soviet Union and rise of
China, based on theories of CNP and inter-dependence; and, second, the growing
influence of the business and middle classes in shaping Indian foreign policy.

India's attempts to build a CNP series (Index of National Security), the range
of FTA/ CECA and CEPA, the economic component of a range of strategic
partnerships help quantify the importance of economic development and openness
to India¡'s grand strategy. An Index of Bilateral Relationship (IBR) based on
people-to-people, business-to-business and government-to-government relations
would therefore offer a more balanced picture of the relative importance of
India's emerging strategic partnerships.

Date: February 21, 2011
Time: 4:00 P.M.

Seminar Hall-1 (Second Floor),
Institute for Defence Studies and Analyses,
1, Development Enclave,
Rao Tula Ram Marg,
New Delhi-110010(INDIA)


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